The Sri Lanka Export Credit Insurance Corporation (SLECIC) has entered into a strategic partnership with Pan Asia Banking Corporation PLC through the signing of the APARA Agreement on 13 May 2026, aimed at improving financial access for Sri Lankans seeking overseas employment.

Under this initiative, Pan Asia Bank will provide Cost of Passage Advances to eligible migrant workers, while SLECIC will extend credit guarantee protection through its APARA scheme against confirmed foreign employment offers. The facility is designed to support key pre-departure expenses such as airfare, visa processing, medical examinations, SLBFE registration fees, insurance, and other approved costs.

This collaboration is expected to ease financial burdens on prospective migrant workers, promote safe and formal migration channels, and encourage greater use of banking facilities for overseas employment financing. It also supports broader goals of financial inclusion and increased remittance inflows to the country.

Senior representatives from both institutions attended the signing ceremony, highlighting their shared commitment to empowering Sri Lankans with safer and more accessible overseas employment opportunities.